Business leaders stress tax reform, macroeconomic stability

Experts at a recent programme highlighted the limited availability of key decision-makers, which often delays timely policy implementation and hinders business facilitation.

The event, titled "Bangladesh Business Outlook – The Priorities Ahead", was jointly organised by SMAC Advisory Services Limited and Policy Exchange, Bangladesh, according to a press release.

It brought together business leaders, economists, and policymakers from UCEP Bangladesh, BSRM, HSBC Hirdaramani Apparel Bangladesh, Pacific Jeans Group, CPDL, MAS Intimates Bangladesh (Pvt) Ltd, RSGT Chittagong, Meridian Group, The Woolmark Company, Thianis Apparel, Mostafa Garments Ind Ltd, TK Group, Elite Paint, and others.

Discussions centred on urgent reforms in taxation, macroeconomic stability, and investment competitiveness, with participants stressing the importance of greater decentralisation for Chattogram, positioning the port city as a driver of national growth.

Zareen Mahmud Hosein, director of SMAC Advisory Services Limited, opened the dialogue, emphasising stronger public-private collaboration.

M Masrur Reaz, founder and chairman of Policy Exchange, called for evidence-based policymaking to ensure inclusive development, while Hasnat Alam, economist at Policy Exchange, outlined fiscal priorities for stability and growth. Snehasish Barua, managing director of SMAC Advisory Services Limited, presented private sector perspectives on taxation and emerging policy challenges.

The dialogue underscored pressing challenges in Bangladesh's economic landscape, including the need for more efficient port management to reduce operational costs and improve the ease of doing business. Participants also raised concerns over insufficient participatory policymaking, noting that many voices -- particularly those of youth entrepreneurs -- remain unheard in national economic discussions.

Emphasis was placed on fostering genuine Bangladeshi patriotism to ensure national interests remain central to economic and social development. The current non-transparent and complex tax administration system was also identified as a major barrier, discouraging compliance and creating obstacles for businesses.

The session concluded with a strong call for collaborative action among policymakers, the private sector, and youth representatives to address these challenges and unlock Bangladesh's full economic potential. Sukanta Bhattacharjee, director of SMAC Advisory Services Limited, was also present to summarise the dialogue's key takeaways.